Mohammad Sadegh Azimifard, the CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) has said that oil product consumption has increased by 9 percent.
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India's Petroleum Minister, Hardeep Singh Puri, expressed hope that increased oil production from western countries like the U.S. and Canada will stabilize markets and prices.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.259 million barrels per day (bpd) of crude oil in October, while the figure was 3.327 million bpd in September.
Global Crude Oil Price Today November 13, 2024
Brent futures rose 14 cents, or 0.2%, to $72.03 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.2%, at $68.25.
Days after a blast triggered a fire at its Gujarat refinery resulting in the death of one person, Indian Oil Corporation (IOC) reported a fire at its Mathura refinery on Tuesday (November 13, 2024).
The OPEC Monthly Oil Market Report provides insights into short-term global oil market developments, including economic, price, consumption, production, trade, and tanker market.
The Head of the Dispatching Department of the National Iranian Gas Company (NIGC) said the country's daily gas consumption reached 794 million cubic meters due to the decrease in air temperature.
The world price of crude oil today, November 12, 2024
Brent crude futures rose 4 cents to $71.87 a barrel, by 0745 GMT. U.S. West Texas Intermediate crude futures were down one cent at $68.03 a barrel.
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report.
India's Oil and Natural Gas Corp.’s (ONGC) quarterly profit beat analyst estimates despite a dip in production and weak crude prices.
Seyed Mohsen Dehbanpour, the CEO of Aghajari Oil and Gas Production Company says the project to collect flare gas at the Rag-Sefid unit has made significant progress.
The world price of crude oil today, November 11, 2024
Brent crude futures fell 9 cents, or 0.1% to $73.78 a barrel by 0916 GMT while U.S. West Texas Intermediate crude futures were at $70.23 a barrel, down 15 cents, or 0.2%.
Union Minister Hardeep Singh Puri on Monday highlighted that India is moving towards a gas-based economy from the imported crude based economy for its energy requirements.
The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) has stated that the company plans to use artificial intelligence to better manage the massive volume of oil product transfers and deter the possibility of disruptions and errors.
The CEO of Pars Oil and Gas Company, Touraj Dehghani, says that the company has succeeded in increasing gas production from Phase 11 of South Pars gas field.
US oil executives are eagerly awaiting Donald Trump’s expected rollback of environmental regulations, but despite the president’s pledge to “drill, baby, drill”, production is unlikely to increase significantly during his second term in office.
The Russian government is considering the merger of three major oil companies - Rosneft, Gazprom Neft, and Lukoil. This move is expected to help secure more favorable energy deals with non-Western countries, reports the Institute for the Study of War (ISW).
The Iranian president says that expansion of relations with Turkmenistan and the development of the International North–South Transport Corridor (INSTC) are atop agenda of his state visit to the neighboring nation.
The head of the National Iranian Oil Company (NIOC) has announced the allocation of $800 million to the National Iranian Drilling Company (NIDC) for the modernization of the company’s drilling equipment, Shana reported.
Mustafa Nakhai, a member of Iran’s Parliament says that energy consumption optimization must be pursued seriously.